EHang Expands in UAE with a Strategic Partnership and Sales Agreement with Wings Logistics Hub, the Passenger eVTOLs and Logistics Tech Subsidiary of Technology Holding Company, the Technology Arm of EIH Ethmar International Holding
- EHang has become a member of the Smart and Autonomous Vehicle Industries Cluster in Abu Dhabi.
- A long-term strategic partnership has been established between EHang and Wings Logistics Hub to introduce EHang's autonomous electric vertical-takeoff-and-landing aircraft ("eVTOL") to the UAE.
- Wings Logistics Hub plans to purchase up to 100 units of EH216 series eVTOLs from EHang.
Caption: Mr. Mohamad Al Dhaheri, board member of Wings Logistics Hub (right), and Mr. Conor Chia-hung Yang, CFO of EHang (left), at the signing ceremony to announce the strategic partnership between two companies.
ABU DHABI, UAE and GUANGZHOU, China, Dec. 18, 2023 (GLOBE NEWSWIRE) -- EHang Holdings Limited ("EHang" or the "Company") (NASDAQ:EH), the world's leading urban air mobility ("UAM") technology platform company, announced that it is extending its operations to the United Arab Emirates ("UAE"). This expansion involves joining the Smart and Autonomous Vehicle Industries ("SAVI") Cluster in Abu Dhabi. Additionally, a long-term strategic partnership has been formed with Wings Logistics Hub, the passenger eVTOLs (smart mobility) and logistics tech subsidiary of Technology Holding Company ("THC"), being the technology arm of EIH Ethmar International Holding. The aim of this partnership is to collaboratively advance the development of urban air transportation and smart city management in the UAE and the Middle East and North Africa ("MENA") region.
The SAVI Cluster, situated in Masdar City and led by the Abu Dhabi Department of Economic Development ("ADDED") and the Abu Dhabi Investment Office ("ADIO"), is dedicated to establishing Abu Dhabi as a key hub for smart and autonomous vehicles. SAVI provides state-of-the-art facilities and value-added services within a supportive regulatory framework. This initiative encourages innovation and aids in the commercial application of smart and autonomous vehicle technologies.
EHang, with its cutting-edge autonomous eVTOLs and the world's first eVTOL type certificate from the Civil Aviation Administration of China ("CAAC"), has formed a strategic partnership with Wings Logistics Hub. The goal of this partnership is to introduce EHang's autonomous eVTOLs to the UAE.
As part of the strategic partnership, Wings Logistics Hub and EHang will work together to facilitate local certification and operations of the EH216 series eVTOLs in the UAE. This includes the EH216-S, EH216-L, and EH216-F models, which are designed for passenger transportation, aerial logistics, and firefighting respectively.
Wings Logistics Hub intends to buy up to 100 units of the EH216 series eVTOLs from EHang with initial deliveries set to commence in the first quarter of 2024.
Mr. Mohamed Al Dhaheri, board member of Wings Logistics Hub, expressed enthusiasm about collaborating with EHang to establish their inaugural international operations in Abu Dhabi. "Introducing electric aviation to the UAE is anticipated to alleviate congestion with zero emissions and, consequently, attract significant foreign direct investment and generate thousands of jobs in the region over the next decade. We take pride in our participation in the SAVI Cluster and remain steadfast in our commitment to advancing smart and autonomous vehicle technologies for passenger transportation, mobility, logistics, and smart city management in the UAE," said by Mr. Mohamed Al Dhaheri.
Mr. Huazhi Hu, Founder, CEO and Chairman of EHang, stated, "We're excited to share our involvement in the SAVI Cluster and our strategic alliance with Wings Logistics Hub and EIH as we broaden our reach in the UAE market. As the first company globally to receive a type certificate for an autonomous eVTOL from China's national civil aviation authority, we're eager to bring our leading-edge technologies to the UAE. Our aim is to work with our local partner to enhance safe, intelligent, autonomous, and eco-friendly air mobility in this region."
About Wings Logistics Hub
Wings Logistics Hub is a dynamic and forward-thinking company specializing in Smart mobility, logistics tech, and omnichannel solutions. It operates under the ownership of Technology Holding Company ("THC"), being the technology arm of Ethmar International Holding ("EIH"). Wings Logistics Hub will cater the passenger eVTOLs and logistic tech functions within EIH Ethmar International Holding. Our dedication centers on seamlessly incorporating cutting-edge technologies, specializing in smart and autonomous vehicle technologies as well as extended infrastructure including Vports across the realms of passenger transportation, smart logistic and smart city management. We lead the charge in transforming the mobility, logistics and omnichannel ecosystem through innovation, smart solutions, and autonomous technologies. Our mission is to pioneer sustainable and intelligent mobility and logistics that propel the UAE into a future where efficiency, connectivity, and environmental consciousness converge seamlessly. As an omnichannel solutions provider, we strive to create a harmonized ecosystem that enhances customer satisfaction, fosters brand loyalty, and maximizes operational efficiency. For more information, please visit: https://wingslogistics.world/.
About Ethmar International Holding
EIH Ethmar International Holding PJSC is a leading holding company based in Abu Dhabi, United Arab Emirates. With a proven track record, EIH has established and acquired over fifty-eight successful companies in nine diversified major sectors, including energy, real estate, alternative investment, technology, healthcare, travel & tourism, hospitality, automotive & trading, and financial services. EIH is committed to ensuring the ongoing success of its investors by fostering sustainable growth, creating mid- and long- term investment opportunities, and ensuring dividend distribution. EIH supports the vision of leadership by encouraging innovation and empowering growth through a diversified investment portfolio. The organization is committed to giving its investors sustainable returns while also advancing the region's economy and prosperity. EIH continues to advance and provide value in the landscape of international business with a forward-thinking strategy and a focus on quality. For more information, please visit: www.eihuae.com.
About EHang
EHang (NASDAQ:EH) is the world's leading urban air mobility ("UAM") technology platform company. Our mission is to enable safe, autonomous, and eco-friendly air mobility accessible to everyone. EHang provides customers in various industries with unmanned aerial vehicle ("UAV") systems and solutions: air mobility (including passenger transportation and logistics), smart city management, and aerial media solutions. EHang has obtained the world's first type certificate for unmanned eVTOL from the Civil Aviation Administration of China in 2023. As the forerunner of cutting-edge UAV technologies and commercial solutions in the global UAM industry, EHang continues to explore the boundaries of the sky to make flying technologies benefit our life in smart cities. For more information, please visit www.ehang.com.
Safe Harbor Statement
This press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to" and similar statements. Statements that are not historical facts, including statements about management's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to those relating to certifications, our expectations regarding demand for, and market acceptance of, our products and solutions and the commercialization of UAM services, our relationships with strategic partners, and current litigation and potential litigation involving us. Management has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management's control. These statements involve risks and uncertainties that may cause EHang's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements.
Media Contact: [email protected]
Investor Contact: [email protected]
